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Canadian Crypto Exchange WonderFi Completes Merger

Canadian cryptocurrency exchange WonderFi Technologies (WNDR) has completed its merger with former competitors Coinsquare and CoinSmart.

With the consolidation now complete, WonderFi Technologies has approximately 1.6 million registered users and $600 million of assets under management.

Going forward, Vancouver-based WonderFi said it plans to invest in the further development of the SmartPay platform for digital currencies that was created by CoinSmart in 2020.

The consolidation under the WonderFi banner comes as foreign crypto exchanges such as privately held Binance leave Canada, citing stringent regulations and a small user base.

WonderFi’s stock has declined 68% over the last 12 months to trade at 18 cents a share.